Digital Adventure, Inc. (JASDAQ:4772) announced a private placement of 32,000,000 common shares at ¥37 per share for gross proceeds of ¥1,184,000,000 on August 12, 2016. The transaction will include participation from new investor Sm Entertainment Japan, K.K. to acquire 19.402346% stake in the company. The company's outstanding shares will increase from 132,928,513 shares to 164,928,513 shares. The transaction will take place through third party capital increase. The payment date is September 9, 2016. The company will incur issuance expenses of ¥4,000,000 for registration expenses, legal expenses, recipient inspection expenses, and other expenses.